This is how we can transfer money online without the hassle

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Every once in a while we find you need the money. The best way to get a personal loan is to lend it from someone known to avoid interest rates. Your credit score will also be taken into consideration when applying for a personal loan. Likewise, when our family or friends are in need, so do we. Thanks to advanced technology, there are several options available in the market if you want to transfer funds instantly. There are different ways to do this depending on your needs. Various factors such as amount, location, and recipient details will come into consideration.

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Here are the top 5 ways to transfer money online:

1. Online bank transfer

One of the easiest ways to transfer money is through your local bank transfer. To do this, you must have a working Internet connection configured with your bank. You will need the bank details of the person you are going to transfer the money to. Details include bank account number, IFSC code, brand name. Some banks take a long time to approve a beneficiary. If you transfer regularly, you can use this method.

2. Transfer via the personal loan application

Online personal loan apps allow you to transfer funds to family or friends in your contact list through the app. Once you have applied for the Quick Loan, you will then be given the option to choose a transfer option, where you can select “Transfer to a friend”. You can transfer to 5 contacts at a time and you can select the amount you want. Once the request is submitted, your transaction will be initiated. The entire transaction is done instantly if you are already registered with the app.

3. Transfer via Paypal

Paypal is an application that allows individuals to transfer the amount to another account. The transaction is free for the sender but a nominal fee is charged to the recipient.

4. Bank transfer

Bank transfer is an electronic transfer of money from one financial entity or another using a network. One of the most common ways to send money internationally is through wire transfer. The process is fast and secure. You can send it through your bank. The exchange rate is based on the rate offered by the bank; the funds will be accessible to your beneficiary in India within a few days.

5. Online wallets

Another option where one can transfer the funds is online wallets. You can do this if both parties have an account with the online wallet. Most wallets do not charge any processing fees.

These are the top 5 ways you can transfer money to your friends and family. If, in case, you don’t have access to the funds and your friend is in an emergency, getting a quick loan through the online app is a good idea. The approval process is much faster and you can forward it directly to your friend.

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